Of Scams and Trust

by | Apr 19, 2001 | Archives

Dear International Friend,

Here is yet another scam that seems to be everywhere and involves trusts.

Recently a dear friend wrote to me:


There is a way that you or an associate could help me.

I want to move my business to Nevada as an llc or an S Corporation, in preparation for forming an IBC, when the funds are available. I also have a pure trust in Nevada. Through the internet there are businesses that form Nevada corporations, including resident agent services.

Before I do it – do you know a business or professional you trust who provides this service? Is this consistent with your business practices?

Here was my reply.

“I was on the forefront of using International structures for years, both in investing and in using overseas structures,. We were using promoting and managing Cayman, Panama, Isle of Man companies decades before they became a rage. We were in Belize almost 20 years ago. What we used to be able to do legally was amazing, but slowly legislation eroded what can be done for most individuals unless they have really large businesses or estates.

Unless you plan to do business out of the U.S. or have volumes in the many millions, an IBC won’t accomplish a thing, nor will an overseas trust. The rules have become so complicated and compliance so onerous that I have shut down all my overseas structures. I use only a Nevada Limited Partnership and a Florida Corporation.

There are so many scam operators in this business now that you really have to really beware. Using them actually makes it more dangerous and visible than not for the peculiar reason that the IRS had toned itself down within the U.S.

The IRS has soften its stance very much in the US but because of this to raise revenues has hardened its focus on overseas structures, especially on promoters of such structures. I have seen several of my readers get in trouble just because they used the wrong promoter.

I fear that what you mean by a pure trust might indeed mean a trust that does not comply with US tax regulations.

I am happy to recommend you to my attorney Joe Cox. His address is jcox@coxnici.com

He is a specialist in tax and estate planning, a dear friend and would not mind at least telling you if what you have really works or could get you into trouble.

The attorney I use in Nevada is David Johnson. His email isfirm@james-law.com. I started using him about ten years ago when he was with the largest firm in Las Vegas, but he is with a smaller firm now. I have never met him, but have been satisfied with the simple statutory work that he has done for me and believe that the advice he would give would be legitimate.

This is an area fraught with danger. I am really experienced in this stuff In fact I am the guy that many of the scam artists have copied. The difference is that when I talked about this stuff it was legal;. Now it is not. What I have seen has caused me to back away and this is because I know this business so well. I would not want to see you and all the positive things you are doing get hurt by believing someone who is not honest or does not know what they are talking about.

Don’t hesitate to ask any questions.”

Yet I was not finished. I asked my friend Joe Cox to confirm that what I thought was correct. Here is his reply.

“Gary, the pure trust is a scam and a fraud. Some people who sold it just went to jail. Don’t even consider it. However, I enjoy looking at this stuff just to see how bad people can be. I just spoke to the IRS criminal division last week on this issue, our good friend, whom you know Aaron, now works for them.”

Another great attorney who specializes in legitimate trusts that are legal and do work is Richard Duke and his email address is richard@assetlaw.com

I will be speaking at an International Investment and Business course in Vancouver Canada April 26 through 29th along with Joe Cox and Richard Duke, Jyske bank and nearly a dozen of the most brilliant economists, money mangers and futurists. I hope to see you there.

I also cover the essence of scams in my novel, “the 65th Octave”

The 65th Octave is an action packed adventure, economic-thriller with a spiritual twist. Robin MacAllen, a global consultant, protects banks and investors from scams. While helping a kidnapped friend, he uncovers an international economic plot. I will conduct a workshop entitled “Robin MacAllen’s Guide to Real Wealth” You and your friends are invited to attend. Gratis. While writing this novel, I included 18 golden words after a series of dreams during yogic meditations. Later while I was in Ecuador, events led me to an Andean Shaman who told me I was part of a 500 year Incan prophesy! Soon after, fictional events in my novel came true including being given by this shaman a golden word for prosperity. I have now received permission to reveal this word for the first time at these workshops. See you at the bookstores! I also appear on The Golden Hours with Janet Taylor, KOPB TV, Portland, Weds, April 24, 6:40 am. Here is the schedule. of these signings.


April 24, 7-9PM 	Barnes and Noble Booksellers 	7700 NE 4th Plain Blvd. 	Vancouver, WA 98662 	(Portland) 	360/253-9007 	 	Friday, April 26th, 2-4 PM 	Book Company 	Oak Ridge Shopping Center 	Cambie and 41st Ave 	Vancouver, BC Canada B5Z 2M9 	604/264-9245 	 	Friday, April 26th, 5:30 PM 	Chapters, Sheraton Wall Centre 	Vancouver BC 	 	Saturday, April 28th, 2-4 PM 	Book Company 	Park Royal North Mall 	Marine Drive 	West Vancouver, BC Canada 	604/922-5125 	 	Wednesday, June 20, 7-9 PM 	Borders Books and Music 	1051 West Sand Lake Road 	Orlando, FL 32809 	407/826-8912 	 	Thursday, June 21, 200, 7-9 PM 	Borders Books and Music 	8285 Red Bug Lake Road 	Oviedo, Fl 32765 	407/997-3385


I hope to see you in Portalnd, Vancouver or Orlando. Until then, good global business and investing!